Overview USDJPY :
Yen pairs have been squirrely like CHF pairs.....Price will make a choice and then we will know the direction to trade.
Mid term : USDJPY .. I see a LONG opportunity targeting 115.000
But where to enter to trade ?
First of all I must say pullback till 111.680 is possible.
H1 Chart :
USDJPY price is testing the FIBO reatracemrn %50 113.15 , then the 61.8 level 112.93. This level is an important important support.
If the price can break this support , 112.600 and even 112 levels can be seen.
H4 Chart :
USDJPY price is above MA50
There is a bullish RSI divergence in H4 and H1 chasrts.
Although the analysis is very basic i will know more into Sunday evening when market opens.
The overview is neutral now . Breakouts are important.
In any case I will place pending LONG orders 112.80 112.600 and 112.000 SL 110.80
If the price can not break the supports @112.90 I will enter LONG trade targeting 115.00
Good Luck
Yen pairs have been squirrely like CHF pairs.....Price will make a choice and then we will know the direction to trade.
Mid term : USDJPY .. I see a LONG opportunity targeting 115.000
But where to enter to trade ?
First of all I must say pullback till 111.680 is possible.
H1 Chart :
USDJPY price is testing the FIBO reatracemrn %50 113.15 , then the 61.8 level 112.93. This level is an important important support.
If the price can break this support , 112.600 and even 112 levels can be seen.
H4 Chart :
USDJPY price is above MA50
There is a bullish RSI divergence in H4 and H1 chasrts.
Although the analysis is very basic i will know more into Sunday evening when market opens.
The overview is neutral now . Breakouts are important.
In any case I will place pending LONG orders 112.80 112.600 and 112.000 SL 110.80
If the price can not break the supports @112.90 I will enter LONG trade targeting 115.00
Good Luck
